Canadian rare earths producer Aclara Resources secured up to $5mn in project development funding from the US International Development Finance Corporation (DFC) for its Carina heavy rare earths project in Brazil.
Aclara Tuesday said the funds will support a feasibility study launched in July 2025, with completion expected by the end of first quarter of 2026.
The DFC is a US government agency that partners with the private sector to mobilize capital for strategic investments worldwide.
The funding may be converted into equity if Aclara completes a single financing round of over $50mn, or multiple rounds totaling at least $75mn within 12 months for the construction of the Carina Project.
Aclara operates a vertically integrated model, with rare earth resources in Brazil and Chile.
It plans a US separation facility to process mixed rare earth carbonates into oxides and partners with Chilean steelmaker CAP to produce rare earth metals and alloys.
